Question: Explain what market segmentation is and when to use it. Identify the five steps involved in segmenting and targeting markets. Recognize the bases used to

  1. Explain what market segmentation is and when to use it.
  2. Identify the five steps involved in segmenting and targeting markets.
  3. Recognize the bases used to segment consumer and organizational (business) markets.
  4. Develop a market-product grid to identify a target market and recommend resulting marketing actions.
  5. Explain how marketing managers position products in the marketplace.

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